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Determining if you are eligible for a home loan modification can be a complicated exercise and most of the time, the rules are anything but clear. The government-supported program, which differs from the strictly private programs, requires that the borrower’s income be large enough to afford a reduced payment but it cannot exceed 3.23 times […]
While Nevada continues to have the highest foreclosure rate, Utah also ranks in the top five, according to recent data from RealtyTrac. States With The Highest Foreclosure Rate: Nevada: 6 percent (1 in 16 housing units received at least one foreclosure filing in 2011) Arizona: 4.14 percent (or 1 in 24) California: 3.19 percent (or […]
Foreclosure numbers during last year dropped to 1.89 million in 2011, a decrease of 34 percent from 2010. Foreclosure filings are expected to rise again. in 2012.
Find out if you qualify for a mortgage forbearance through Fannie Mae or Freddie Mac.
A study that involved thousands of ReMax real estate agents revealed that the housing market will start to recover in 2012, with an increase in sales and stabilizing home prices. The majority of Realtors surveyed believe that home prices will stay the same, or increase during 2012. However, the number of foreclosure (distressed) sales are […]
The US Treasury Department along with The Federal Housing Finance Agency and the U.S department of Housing and Urban Development (HUD) have been working on a new program that would transform foreclosed homes into rental properties. Details of the program are currently very limited, however a foreclosure rental program is expected to take shape sometime […]
Several attorneys are offering to help homeowners prevent foreclosure by collecting hefty upfront fees, claiming they will work with the bank to stop the foreclosure.
Homeowners with modified mortgages are more likely to stay current on their payment when receiving counseling assistance.
Foreclosures and short sales are expected to represent even more market share during the coming year.